Ferrexpo is an iron ore pellet producer. Co. produces, develops and markets its product for sale to the metallurgical industry. Co. operate two mines and a processing plant near Kremenchug in Ukraine, and an interest in a port in Odessa. Co. also owns logistics assets in Austria which operate a fleet of vessels operating on the Rhine and Danube waterways and an ocean-going vessel. Co.'s operations are integrated from iron ore mining through to iron ore concentrate and pellet production and subsequent logistics. Co.'s mineral properties lie within the Kremenchug Magnetic Anomaly and are being extracted at the Gorishne-Plavninskoye and Lavrikovskoye and Yeristovskoye deposits.
  • TickerFXPO
  • ISINGB00B1XH2C03
  • ExchangeLondon Stock Exchange
  • SectorIndustrial Metals & Mining
  • CountryUnited Kingdom

Ferrexpo plc: Update following rating upgrade to B2 and outlook change to negative

Ferrexpo's rating and outlook reflect robust operating profitability, low leverage and improved liquidity profile, tempered by governance issues and Ukraine's country ceiling constraints.

Moody's upgrades Ferrexpo to B2; outlook negative

Rating Action: Moody's upgrades Ferrexpo to B2; outlook negative. Global Credit Research- 16 Jun 2020. London, 16 June 2020-- Moody's Investors Service today upgraded the corporate family rating of Ferrexpo plc to B2 from B3 and its probability of default rating to B2-PD from B3-PD.

BCS Equity Daily: Gazprom, Ferrexpo, Detsky Mir, X5 Retail

Central Banks vs mounting threats Ahead: Red day spooks the Fed. Predictably, the potential for a second day in the red for US markets spooked the Fed, who then announced further market stimuli – this time, purchasing individual corporate bonds. The Central Banks have battened down the hatches and stand pat against the grim reality at the door (second wave of COVID manifest in Beijing’s ‘war footing’) – to hell with the long-term consequences, for now the markets look green (excluding any sudden corporate or political shocks for the local market). Powell’s comments will again be in focus toda...

Ferrexpo plc - December 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Research Team

The Rear-View Mirror – EME markets: Markets rebound from March’s meltdown, all indices in the black

EME Equity Market – April 2020 Market performance – in contrast to March, all indices recorded positive changes in April, with the Greek ASE Index advancing the most in EUR terms. The MSCI EM Europe Index gained 10.5% in EUR terms and 10.2% in local currency terms. The ASE Index was the best performer, +12.5%; followed by the PX Index, +11.5% in EUR terms. The Russian MOEX grew 11.2%; while the WIG20, the Polish benchmark, added 9.4%. A solid performance was reported in Hungary as well, where the BUX index rebounded 8.6%. The Turkish ISE30 Index showed a healthy advance of 5.4%, while the Roma...

Roger Bade

Thermal Coal - Baby its cold outside!

For the time being, bearishness, coming from various institutional climate change pressures will have to wait, as the cold weather in the northern hemisphere is driving thermal coal prices. Firm oil & gas prices aren't doing any harm either.

1 director maiden bought

A director at Ferrexpo maiden bought 50,000 shares at 171p and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of b...

BCS Equity Daily: Gazprom, Ferrexpo, Detsky Mir, X5 Retail

Central Banks vs mounting threats Ahead: Red day spooks the Fed. Predictably, the potential for a second day in the red for US markets spooked the Fed, who then announced further market stimuli – this time, purchasing individual corporate bonds. The Central Banks have battened down the hatches and stand pat against the grim reality at the door (second wave of COVID manifest in Beijing’s ‘war footing’) – to hell with the long-term consequences, for now the markets look green (excluding any sudden corporate or political shocks for the local market). Powell’s comments will again be in focus toda...

Research Team

The Rear-View Mirror – EME markets: Markets rebound from March’s meltdown, all indices in the black

EME Equity Market – April 2020 Market performance – in contrast to March, all indices recorded positive changes in April, with the Greek ASE Index advancing the most in EUR terms. The MSCI EM Europe Index gained 10.5% in EUR terms and 10.2% in local currency terms. The ASE Index was the best performer, +12.5%; followed by the PX Index, +11.5% in EUR terms. The Russian MOEX grew 11.2%; while the WIG20, the Polish benchmark, added 9.4%. A solid performance was reported in Hungary as well, where the BUX index rebounded 8.6%. The Turkish ISE30 Index showed a healthy advance of 5.4%, while the Roma...

BCS Equity Daily: Norilsk Nickel, Ferrexpo, Sberbank, Sistema, FIVE, Etalon

Virus ‘peak’ hopes fade, OPEC+ no done deal Ahead: Selling into strength operative. The caution exercised in later trade yesterday appears set to be operative. Some skepticism that COVID-19 was peaking appears to have been healthy – daily tally of deaths rose again in Italy and France, Germany and concerns of a second wave in China prompt another lockdown. And while players are betting OPEC+ itself will strike a deal, that remains to be seen, especially since the OPEC+ accord has been seen as being contingent on US participation – to date, Washington has shown no sign of interest in an OP...

Research Team

The Rear-View Mirror – EME markets: BET Index the best performer, despite 16.7% drop

EME Equity Market – March 2020 Market performance – all stock indices in the region were down in March, with the BET the best performer in EUR terms (-16.7%). The MSCI Emerging Markets Europe Index lost 25.8% in EUR terms, while the Czech PX Index was down 24.8%. Other regional stock markets were not far behind, with the BUX Index losing 22.8% in EUR terms, followed by the ASE Index (-22.5% mom), the Russian MOEX (-22.4% mom), the Polish WIG20 (-18.5% mom) and the Turkish ISE30 (-19.8% mom). The best performance was seen in Romania, with the BET Index losing “only” 16.7%. In local currency ter...

BCS Equity Daily: Index Alert, Transneft, Petropavlovsk, Ferrexpo, Sberbank, Inter RAO

Sea of red on COVID-19 – Brent, Ruble hit Ahead: Bucking trend not likely. Global bourses are deep red, spooked by the un-abating spread of COVID-19 that has sent economic growth outlook spiraling downward. The consequent sapping of demand, together with an expected hit from the supply side (Saudi Arabia and Russia prepare to ramp up production), have sent Brent and the ruble plummeting. The Russia trade is set for another rocky ride. US, Asia down. US (S&P 500 -5.18%, DJIA -6.30%, NASDAQ -4.70%). Asia this morning (Hang Seng -3.94%; Shanghai -1.80%, Nikkei -2.68%). S&P 500 Futures (+n/a), ...

Ferrexpo plc: Update following rating upgrade to B2 and outlook change to negative

Ferrexpo's rating and outlook reflect robust operating profitability, low leverage and improved liquidity profile, tempered by governance issues and Ukraine's country ceiling constraints.

Moody's upgrades Ferrexpo to B2; outlook negative

Rating Action: Moody's upgrades Ferrexpo to B2; outlook negative. Global Credit Research- 16 Jun 2020. London, 16 June 2020-- Moody's Investors Service today upgraded the corporate family rating of Ferrexpo plc to B2 from B3 and its probability of default rating to B2-PD from B3-PD.

Ferrexpo plc - December 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Ferrexpo plc: Update following change in outlook to positive from stable

A detailed rationale for Ferrexpo’s rating reflecting solid business fundamentals, moderate leverage and adequate liquidity profile, albeit constrained by Ukraine's country ceiling

Moody's announces completion of a periodic review of ratings of Ferrexpo plc

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Ferrexpo plc. Global Credit Research- 13 Dec 2019. London, 13 December 2019-- Moody's Investors Service has completed a periodic review of the ratings of Ferrexpo plc and other ratings that are associated with the same analytical unit.

Research Team

WOOD Daily: CETV US; IIA AV; PEO PW; TEN PW; FXPO LN; GWI LN; OPAP GA; PL Banks; PZU PW; CCC PW; FMF PW; MNOD LI; TL Consumer Discretionary; KER PW; PGN PW; CPS PW; HTO GA; AFLT RX; ARCLK TI; ASELS TI; DPEU LN; PGSUS TI; TTKOM TI; SVST LI

HEADLINES: • CME: 1Q20 results - sales and OIBDA down 2% yoy; merger with PPF to be completed in 3Q20E POSITIVE • Immofinanz: 4Q19 in line - retail (45%) a risk, but LTV and liquidity sufficient to absorb stress • Bank Pekao: recommends leaving 75% of 2019 net profit undistributed • Bank Pekao: changes in the management and supervisory boards • Ten Square Games: plan to change CEO and new incentive programme NEUTRAL • Ferrexpo: pays 2019 final dividend of USc 6.6/share (a 4.0% yield) POSITIVE • Globalworth: sudden share price drop creates a buying opportunity • OPAP: 51% stake in Stoiximan...

Research Team

WOOD Daily: EME Macro; CCC PW; GTC PW; SPI AV; MOH GA; OTP HB; PL Banks; PL Retailers; MAVI TI; FROTO TI; PKN PW; ATRS AV; FOYRK GA; MOL HB; FXPO LN

HEADLINES: • EME macro: ECB broadens scope for QE • CCC: issue of 20% equity (pre-emptive rights), Mr .Milek will buy no less than 35% of the offer POSITIVE • GTC: 4Q19 - recurring in line, dividend decision postponed, focus on balance sheet NEUTRAL • S Immo: 4Q19 - hotels and retail exposure, combined with leverage, spells tough year ahead • Motor Oil Hellas: 4Q19 results - EBITDA below expectations • OTP Bank: Hungarian government announces generous loan repayment moratorium and cash loans cap NEGATIVE • Polish banks: PFSA to prepare package to reinforce Polish banking sector • Polish no...

Research Team

WOOD Daily: PLY PW; EME Macro; CEZ CP; PL Banks; EAT PW; ATRS AV; EUROB GA; BOCH LN; PL Pension Reform; FROTO TI; CCC PW; FXPO LN; MOH GA

HEADLINES: • Play Communications: safe haven in tough times (upgraded to BUY) • EME macro: Eurogroup announces first set of coordinated measures • CEZ: 4Q19 EBITDA beats, but adjusted net profit and FY20E net guidance in line NEUTRAL • Polish banks: Financial Stability Committee recommends to cut systemic risk buffer for banks to 0% • Polish banks: to extend help to clients • AmRest: switching to deliveries POSITIVE • Atrium: launches share buyback of up to 7% of shares POSITIVE • Eurobank: zero risk weighting on senior bonds under APS • Bank of Cyprus: trading update • EME Strategy: t...

Research Team

Focus: EMEA steel sector – upgrading NLMK and Erdemir to BUY, keeping MMK and FXPO as BUYs, downgrading EVRAZ to HOLD and keeping SVST a HOLD; keeping our BUY on Sberbank, with higher RUB 286 PT; downgrading Jumbo to HOLD

HEADLINES: • EMEA steel sector: inflexion point - buy the dip (NLMK and Erdemir upgraded to BUY; MMK and FXPO stay BUY; EVRAZ downgraded to HOLD; SVST stays HOLD) • Sberbank: value over bottom-up momentum (stays BUY) • Jumbo: not that cheap, but cheerful (downgraded to HOLD) • Polish banks: FX mortgage saga - first ruling from Supreme Court after CJEU's ruling in October NEGATIVE • NLB Group: positive news from the reduction in the P2R POSITIVE • PKN Orlen: reaches FID on Visbreaker • Stock Spirits Group: 2H FY18/19E preview (due on 4 December) NEUTRAL • Short News (Czech banks, PEO, ING,...

Research Team

Focus: keeping our BUY on Ferrexpo, with higher GBp 344 PT; Alior Bank posts weak 2Q19 on very high provisioning; Richter’s 2Q19 results a small beat vs. consensus; Siauliu Bankas’ 2Q19 results review; Turkey macro – inflation update

HEADLINES: • Ferrexpo: good 1H19 results, estimates increased (stays BUY) • Alior Bank: posts weak 2Q19 on very high provisioning NEGATIVE • Richter: 2Q19 results a small beat vs. consensus NEUTRAL • Siauliu Bankas: 2Q19 results review • Turkey macro: inflation update • Ford Otosan: 2Q19 results call highlights NEUTRAL • Tauron: regulator approves in.ventus acquisition NEUTRAL • Rostelecom: acquires internet and pay-TV providers in Primorsky region NEUTRAL • Polish utilities: 2024 capacity auction wrap up • Play Communications: 2Q19E - strong quarter, +11% yoy adjusted EBITDA expected (du...

FERREXPO PLC. sees an upgrade to Slightly Negative thanks to a better star rating, but the title remains unattractive

The independent financial analyst theScreener just awarded an improved star rating to FERREXPO PLC. (GB), active in the Steel industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 2 out of 4 possible stars. Given its market behaviour as risky, theScreener considers that these elements allowing slightly upgrading its general evaluation to Slightly Negative; the title, however, remains unattractive. As of the analysis date February 21, 2020, the closing price was GBp 156.30 and its target price was estimated at GBp 108.63.

Philip Morrish

Value Indicator - UK Basic Resources 30122019

Currently '(TM)Value Indicator - UK basic resources' is a value analysis fof the Basic Resources super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 30122019

Currently '(TM) Value Indicator - Main Market' is a value analysis of the Basic Resources, Construction & Materials, Telcoms and Utilities sectors of quoted companies on The London Stock Exchange's Main market that provides the user with indicative long-term trading indicators and indicative target prices. The publication is also available on request at

Philip Morrish

Value Indicator - UK Basic Resources 23122019

Currently '(TM)Value Indicator - UK basic resources' is a value analysis of the Basic Resources super sector of quoted companies on the London Stock Exchange's main market that provides the reader with longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 23122019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term tagrte prices.

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